Bar Harbor Wealth Management Sells 2,620 Shares of General Mills, Inc. (NYSE:GIS)

Bar Harbor Wealth Management lessened its holdings in shares of General Mills, Inc. (NYSE:GIS) by 12.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,940 shares of the company’s stock after selling 2,620 shares during the quarter. Bar Harbor Wealth Management’s holdings in General Mills were worth $1,169,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of GIS. IHT Wealth Management LLC grew its position in General Mills by 2.2% during the 1st quarter. IHT Wealth Management LLC now owns 5,817 shares of the company’s stock valued at $497,000 after purchasing an additional 126 shares during the last quarter. Atlas Capital Advisors LLC raised its holdings in General Mills by 2.1% in the 4th quarter. Atlas Capital Advisors LLC now owns 6,575 shares of the company’s stock worth $551,000 after acquiring an additional 136 shares during the last quarter. L.M. Kohn & Company lifted its position in General Mills by 2.6% in the 3rd quarter. L.M. Kohn & Company now owns 6,034 shares of the company’s stock valued at $386,000 after acquiring an additional 155 shares in the last quarter. Traverso Chambers Private Wealth Management LLC boosted its stake in General Mills by 1.0% during the 4th quarter. Traverso Chambers Private Wealth Management LLC now owns 16,156 shares of the company’s stock valued at $1,052,000 after purchasing an additional 156 shares during the last quarter. Finally, TrueWealth Advisors LLC raised its position in General Mills by 4.3% in the 3rd quarter. TrueWealth Advisors LLC now owns 3,837 shares of the company’s stock worth $246,000 after buying an additional 158 shares during the last quarter. Hedge funds and other institutional investors own 75.71% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GIS shares. HSBC boosted their price objective on shares of General Mills from $74.00 to $76.00 and gave the company a “hold” rating in a report on Thursday, March 21st. Stifel Nicolaus increased their price target on General Mills from $68.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Barclays lifted their price objective on General Mills from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Friday. Morgan Stanley increased their target price on General Mills from $58.00 to $61.00 and gave the company an “underweight” rating in a report on Thursday, March 21st. Finally, TD Cowen upped their price objective on General Mills from $68.00 to $70.00 and gave the stock a “market perform” rating in a research note on Thursday, March 21st. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $73.50.

Insider Activity at General Mills

In other General Mills news, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $64.44, for a total value of $3,870,008.64. Following the completion of the sale, the chief executive officer now owns 318,483 shares of the company’s stock, valued at $20,523,044.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Jonathon Nudi sold 7,671 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $64.15, for a total transaction of $492,094.65. Following the completion of the sale, the insider now directly owns 102,924 shares of the company’s stock, valued at $6,602,574.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey L. Harmening sold 60,056 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $64.44, for a total transaction of $3,870,008.64. Following the completion of the transaction, the chief executive officer now directly owns 318,483 shares in the company, valued at approximately $20,523,044.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,782 shares of company stock worth $5,057,820. Insiders own 0.24% of the company’s stock.

General Mills Price Performance

Shares of NYSE GIS traded down $0.80 during mid-day trading on Tuesday, hitting $68.34. 5,288,368 shares of the company’s stock traded hands, compared to its average volume of 4,309,637. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.66 and a quick ratio of 0.40. General Mills, Inc. has a 1 year low of $60.33 and a 1 year high of $90.89. The company’s 50-day moving average is $64.78 and its two-hundred day moving average is $64.74. The company has a market capitalization of $38.81 billion, a P/E ratio of 15.86, a PEG ratio of 2.43 and a beta of 0.15.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, March 20th. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.12. General Mills had a return on equity of 26.84% and a net margin of 12.66%. The firm had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $4.97 billion. During the same quarter in the previous year, the business earned $0.97 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities analysts anticipate that General Mills, Inc. will post 4.5 EPS for the current fiscal year.

General Mills Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Tuesday, April 9th. General Mills’s dividend payout ratio is currently 54.13%.

About General Mills

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and salty snacks, ice cream and frozen desserts, nutrition bars, and savory snacks, as well as various organic products, including frozen and shelf-stable vegetables.